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MONDAY, JANUARY 3, 1983
DTCS REGISTRATION REVOKED/SUSPENDED
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THE COMMISSIONER OF DEPOSIT-TAKING COMPANIES ANNOUNCED THAT HE HAS TODAY REVOKED THE REGISTRATION OF DOLLAR CREDIT AND FINANCING LIMITED AS A DEPOSIT-TAKING COMPANY.
HE HAS ALSO SUSPENDED UNTIL FURTHER NOTICE THE REGISTRATION OF FOUR COMPANIES AS DEPOSIT-TAKING COMPANIES ON THE GROUND THAT THE COMPANIES HAD FAILED TO MAINTAIN THE MINIMUM LEVEL OF SPECIFIED LIQUID ASSETS REQUIRED BY LAW DURING NOVEMBER 1982. THE COMPANIES ARE AXONA INTERNATIONAL CREDIT AND COMMERCE LIMITED, HONG KONG DEPOSIT AND GUARANTY COMPANY LIMITED, TETRA FINANCE (HK) LIMITED AND WHITEHALL FINANCE LIMITED.
REVOCATION OR SUSPENSION OF REGISTRATION REQUIRES THE COMPANY TO CEASE TAKING DEPOSITS FROM THE PUBLIC. HOWEVER, HE SAID, THE COMPANY MAY CONTINUE TO HOLD UNTIL MATURITY DEPOSITS TAKEN PRIOR TO SUCH SUSPENSION OR REVOCATION.
THE COMMISSIONER EXPLAINED THAT HE HAD GIVEN THE COMPANIES A REASONABLE PERIOD OF TIME TO RESTOCK THEIR LIQUID ASSETS BUT, UNFORTUNATELY, THEY HAD BEEN UNABLE TO DO SO.
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TEMPORARY ROAD CLOSURES ***
THE WESTBOUND SECTION OF HENNESSY ROAD BETWEEN ARSENAL STREET AND JOHNSTON ROAD WILL REMAIN CLOSED TO TRAFFIC (EXCEPT FRANCHISED BUSES AND TRAMS) FOR ROAD REPAIRS.
THE CLOSURE IS EXPECTED TO LAST FOR ANOTHER FOUR WEEKS, DURING WHICH TIME WESTBOUND TRAFFIC ON HENNESSY ROAD WILL BE DIVERTED VIA GLOUCESTER ROAD OR QUEEN'S ROAD EAST.
MEANWHILE, IN KOWLOON, LION ROCK TUNNEL ROAD NEAR KAK TIN VILLAGE IN SHA TIN WILL BE CLOSED FOR FOUR CONSECUTIVE MORNINGS FROM TUESDAY (JANUARY 4) BETWEEN 1 AM AND 5 AM DAILY. THE CLOSURE IS TO ALLOW FOR THE CONSTRUCTION OF A FOOTBRIDGE.
DURING THE CLOSURE, TRAFFIC BETWEEN KOWLOON AND SHA TIN WILL
BE MAINTAINED VIA TAI PO ROAD.
HOWEVER, THE SECTION OF LION ROCK TUNNEL ROAD FROM KAK TIN VILLAGE TO TSANG TAI UK WILL REMAIN OPEN FOR LOCAL ACCESS.
VEHICLES TRAVELLING BETWEEN KOWLOON AND WORLDWIDE GARDENS CAN STILL USE THE LION ROCK TUNNEL.
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